When you sit down to compare rewards cards it is definitely a challenge. Should you go for the points, is cash back better or what about travel miles? It’s rather like sensory overload with the plethora of cards available and rewards galore to choose from. Keep these simple facts in mind, however, and it will make the process to compare rewards cards much smoother.
Rules to Follow When You Compare Rewards Cards
- What do your really want from a rewards card? Before you even begin to compare rewards cards, determine exactly what you want hope to obtain. Do you want to see the world or even just this continent? Then travel miles may suit your lifestyle best. Do you enjoy special deals, discounts and promotions at a favorite store or supplier? Then a retail rewards card may be top selection. Or maybe you would like to put a little cash back in your wallet every time you make a purchase? That is when you gravitate towards a rewards card that offers a cashback program.
- There are no boundaries. There is no regulation set in stone which limits to you only one rewards card or one that offers only one perk. Say you don’t go on many vacations but are finally planning an extended trip to South America. Then why not apply for a rewards card that offers travel bonuses you can use for your journey? You also really like the idea of receiving some kind of return for all the items your purchase. Than fill out the application for another cashback card. Variety is supposed to be the spice of life. Why not allow your rewards cards to supplement and enhance your lifestyle with their loyalty programs?
- Do you want to pay a fee? Although some people steer clear of rewards cards with an annual fee and often examine the interest rates, another factor to remember when you compare credit cards is if a foreign transaction fee applies. If you are an avid traveler and often go abroad or overseas, make sure to review how much it will cost you to use the card out of the U.S. Nearly every country charges a small fee for each purchase. While it is normally around three percent, it could also be much higher and if you plan on using your card frequently, you can rack up quite a bill.
When Should You Compare Rewards Cards?
Obviously, there are many different factors that come into play not only when you make selections on rewards cards but when you compare them. If you want to be honest, you really don’t even have to compare rewards cards at all. Simply choose the ones that fit your lifestyle, your spending habits and suit your desires. If a specific rewards card catches your eye, you might as well apply and at least have it on hand. You do not have to use it if your circumstances change or if you discover it was not as beneficial as you thought it would be. So make it as easy on yourself as you can when you compare rewards cards and enjoy the variety of loyalty programs that are available to you as a consumer.